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Nov 14, 2012
11/12
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we have about a 1. -- about a $16 trillion annual economy. so what's called a steep tax increase turns out to be 1% of our national income. now, our budget deficit is 7% of gnp, so this is saying steep tax increase, one-seventh of the way to close the deficit. without in framework, nobody can understand the games, the numbers, the bells and whistles. when you say it's unbalanced, i have to disagree. we don't even know what it is, first of all. but almost everything still is pointing towards significant cuts. and i think cuts that would be pretty devastating, actually. >> you know, jeffrey, when you say nobody understands this, i hesitate to correct you, but you're wrong because we have david gregory. we have david gregory. >> there we go. >> he understands everything. >> i know he does. and that's great. >> david, with your mathematical wizardry and your background in calculus and everything like that, please explain to us the president's framework that he will no doubt explain in public later today. is there a framework? >> i think there is
we have about a 1. -- about a $16 trillion annual economy. so what's called a steep tax increase turns out to be 1% of our national income. now, our budget deficit is 7% of gnp, so this is saying steep tax increase, one-seventh of the way to close the deficit. without in framework, nobody can understand the games, the numbers, the bells and whistles. when you say it's unbalanced, i have to disagree. we don't even know what it is, first of all. but almost everything still is pointing towards...
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Nov 12, 2012
11/12
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we've always owned the economy. and we lost the economy. and that's a heartbreak because you know what else? the president not only won re-election, but he now owns the economy for the next four years. and chances are, the economy's going to improve over the next four years. unemployment's going to go down. gdp growth is going to go up. and four years from now, the party could be in a really difficult situation with an improving economy. that's number one. two, we've always owned strong national security, a confident foreign policy and world view. and we missed an opportunity to address the middle east. and that is how you clean it up. not how you make it worse, how you exert a little bit more in the way of diplomacy as opposed to militancy. i think we missed that one completely. and finally, you know, i think there have always been some libertarian strands in this party of ours. and we're missing that one, too. you know, when i go to college campuses as i do on a regular basis, these young kids coming up -- and we lost a whole lot of them
we've always owned the economy. and we lost the economy. and that's a heartbreak because you know what else? the president not only won re-election, but he now owns the economy for the next four years. and chances are, the economy's going to improve over the next four years. unemployment's going to go down. gdp growth is going to go up. and four years from now, the party could be in a really difficult situation with an improving economy. that's number one. two, we've always owned strong...
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Nov 9, 2012
11/12
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can they even go beyond that and help grow the economy? >> you saw some signs -- chuck schumer yesterday said that he would accept a 35% top rate, not insist on it staying -- going back to 39.6%, which was -- >> that's significant. >> that's significant. and so if they're now talking about how high the top rate could be, whether it's 35% or a little bit less, as john boehner would argue, then you're talking about the outlines of a deal. i thought i heard a lot of flexibility in boehner. the kwereal question's going to mitch mcconnell and whether senate democrats can get enough republicans -- bob corker, a key player and some of the other republicans already on the senate side have been talking. there's the gang of eight. olympia snowe working really hard on doing this before she retires. kent conrad on the democratic side. i think there is a deal. but as we've seen with the grand bargain, it can slip away very, very closely. the fact is there was a house gop caucus conference call, and they said they wanted to give the leadership some runn
can they even go beyond that and help grow the economy? >> you saw some signs -- chuck schumer yesterday said that he would accept a 35% top rate, not insist on it staying -- going back to 39.6%, which was -- >> that's significant. >> that's significant. and so if they're now talking about how high the top rate could be, whether it's 35% or a little bit less, as john boehner would argue, then you're talking about the outlines of a deal. i thought i heard a lot of flexibility...
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Nov 13, 2012
11/12
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>> well, it's bringing the debt down, moving the economy forward. i think we need a competitive agenda for this country so we're actually working with business to increase exports, to look at some of the rules and regulations. minnesota is second per capita for fortune 500 companies. we care a lot about moving forward with getting workers trained in science, technology, those kinds of things. i think there are exciting opportunities. i think immigration reform has a possibility. >> on competitiveness across the globe, are corporate tax rates too high in america? >> i think they should be brought down but that has got to be part of a bigger deal. we can't just bring them down and not pay for them. it will be closing the subsidies whether it's the oil subsidy, whether it's looking at some of the other ones. so if we could get some grand deal and i think it could happen, where businesses are onboard. not everyone will like it but where you bri the business rates down in exchange for taking those levels on the bush tax cuts for people making over $250,0
>> well, it's bringing the debt down, moving the economy forward. i think we need a competitive agenda for this country so we're actually working with business to increase exports, to look at some of the rules and regulations. minnesota is second per capita for fortune 500 companies. we care a lot about moving forward with getting workers trained in science, technology, those kinds of things. i think there are exciting opportunities. i think immigration reform has a possibility. >>...
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Nov 8, 2012
11/12
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call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader. >>> welcome back to "morning joe." it is time for "business before the bell" with cnbc's brian schactman. brian, what was behind the market's big sell-off yesterday? >> obviously there's some concern about what's going to happen with the fiscal cliff. it is my least favorite term in the world right now. but also europe came back into focus. rioting in greece, a general strike and sentiment from the ecb head that basically germany could get dragged down into recession over this and we were down 320 points. we're up a little bit today, guys. jobless claims at 355,000, down about 8,000. that's pretty good news. two other items to note. one serious, one not-so-serious. here at cnbc in the business world we're parsing mitch mcconnell and john boehner like you guys are to see what realistic possibility there is to get some sort of deal, whether it will be in the lame duck or will continue to kick the can down the road. that's the discuss
call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader. >>> welcome back to "morning joe." it is time for "business before the bell" with cnbc's brian schactman. brian, what was behind the market's big sell-off yesterday? >> obviously there's some concern about what's going to happen with the fiscal cliff. it is my least favorite term in the world right now. but also europe came back into focus....